Posner's article on economic regulation distinguished it from social regulation,   which is still a separate and largely unexplained phenomenon.

See Jonathan Wiener "On the Political Economy of Global Environmental Regulation", Georgetown Law Journal, Vol. 87, #3 (February 1999).

Alex Tabarrok wrote:

>The idea, called "regulatory capture" is associated with George
>Stigler.  Posner's paper "Theories of Economic Regulation," Richard
>Posner, Bell Journal of Economics and management science, Vol. 5, No. 2,
>335-358, 1974. brought the idea ought very clearly as I recall but I am
>not aware of that quote in either.

Alexander Tabarrok
Department of Economics, MSN 1D3
George Mason University
Fairfax, VA, 22030
Tel. 703-993-2314

Web Page: http://mason.gmu.edu/~atabarro/


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